Midweek Cash Markets | February 16, 2022

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CORN COMMENTS

The national average corn basis firmed 3/4 cent over the past week to 2 1/2 cents above March futures. The national average cash corn price firmed a penny to $6.49 1/2.

Basis is virtually in line with the three-year average of 3 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 2 1/4 cents over the past week to 3 1/2 cents below March futures. The national average cash price dropped 17 3/4 cents on the week to $15.84.

Basis is better than the three-year average of 10 3/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis held at 23 3/4 cents under March futures. The average cash price dropped 4 1/2 cents to $7.56 3/4. SRW basis is much weaker than the three-year average of 2 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 10 1/2 cents to 20 1/4 cents below March futures. The average cash price firmed 6 1/2 cents to $7.87 3/4. HRW basis is better than the three-year average of 27 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $140.48 last week, up 72 cents from the previous week. This week’s cash trade started around $142 in the Southern Plains. Last year at this time, the cash price was $114.07.

Choice boxed beef prices dropped another $6.17 over the past week to $269.62. Last year, Choice boxed beef prices were $237.51.

HOG COMMENTS

The average lean hog carcass price firmed another $6.13 over the past week to $93.35. Last year’s lean carcass price on this date was $76.53.

The pork cutout value firmed $1.68 over the past week to $106.52. Last year at this time, the cutout price stood at $87.79.